I am an optimist. I think it is realistic to strive to eliminate extreme poverty in the world and over time provide all of humanity with the opportunity for a prosperous life. So when I look at proposed actions the metrics I apply are simple: “does this policy help or hurt poor working people?” and “does this policy increase prosperity in the world in a sustainable way.” President Trump’s trade policy doesn’t pass either of my tests. It is bad for poor people in the short run and is bad economic policy in the long run.
Eight years ago when I reviewed The Rational Optimist I wrote; “The lesson of the last two centuries is that liberty and welfare march hand in hand with prosperity and trade.”
President Trump is trying to balance trade but it will never balance and it isn’t even important that it does. He may still succeed and get the Chinese to back down but if he fails the 1930’s might start to look like the good old days.
Photo Credit: Taken of the Jelly Fish tank at the Oregon Coast Aquarium. Tough conditions. I have taken better here.